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The Independent UK

National

Archie Mitchell

Recession fears as house prices slump and manufacturers suffer worst month since lockdown

United Kingdom Robert Gardner Nationwide Mark Harris Bank of England Barclays HSBC Inflation Nationwide Building Society SPF Private Clients

A slump in house prices and a sharp slowdown in the manufacturing sector today raised fears that the UK is heading for a recession.

UK house prices fell at the fastest annual rate in 14 years in July as spiralling mortgage rates and the rising cost of living began to bite.

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